Top Web3 Headlines from This Week 07.14.2023
Here are the top web3 stories from this week.
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Legal
Industry Gets Huge Court Win
⚖️ The big news this week is the court victory for Ripple $XRP. A federal judge said that $XRP sold on exchanges in open market transactions is not a security. This is a huge blow to the SEC’s case against Coinbase and Binance. The victory was not a complete one, as the judge is allowing the case against Ripple to continue around the private token sale by the company to institutional investors.
The SEC and Justice Department arrested the founder of failed DeFi lender Celsius and charged him with fraud.
Crypto protocol Multichain was hacked for $103MM. The SEC investigates BarnBridge DAO. Crypto exchange Gemini sued DCG and their founder over failed DeFi lender. Gutter Cat Gang’s Twitter was hacked and NFT holders lost $750K.
Products
Google Makes Web3 Move
🚀 Google Play to allow NFT games under new program. Popular NFT project Cool Cats is launching three new video games. Dapper Labs is making its third major job cut.
Capital Raised
Several Smaller Fundings
💰 Music platform Sound.xyz adds $20MM. Web3 gaming startup Xterio raises $15MM. Alluvial gets $12MM for Crypto staking. CryptoQuant closes $6.5MM funding. Gondi grabs $5.3MM for NFT lending.
Apply
Immutable Founders Program
✍️ Atlanta Blockchain Center has opened applications for the next Immutable Founders Program. If you run a web3 startup here in Atlanta, please join ABC and W3 Studio in the Q3 2023 cohort. Details and application here.
Diversity in Tech
Stories of Diverse Founders, VCs, and Builders
💪🏽 Insight Partners closes $118MM VC fund to back underrepresented founders. NFL vet Hannibal Navies discusses his charitable work and impact.
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